Re-commerce start-up Envoged raises money from angel investors
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New Delhi: Armoire Lifestyle Pvt. Ltd, which owns and operates start-up Envoged, has raised an undisclosed amount from a consortium of angel investors led by serial entrepreneurs Ankush Nijhawan, Manish Dhingra and Gaurav Bhatnager for scaling up its reach and enhancing technology.
The round also saw the participation of Himanshu Aggarwal, chief executive officer of Aspiring Minds, Jackky Bhagnani, Bollywood actor, Anant Goenka, wholetime director and head of new media at Indian Express, and angel investor Alok Mittal.
Founded by Indian Institute of Technology-Kharagpur alumni Anandita Singh and Manisha Barnwal along with former Bain & Co. executive Saahil Narang, Envoged allows owners of luxury goods like handbags, footwear and accessories to sell items that they no longer need.
The platform collects items, consigns them, checks for authenticity, determines the ideal resale price and then sells it online.
“Authenticity is very crucial when it comes to shopping luxury online, and we go an extra mile to ensure that each and every product listed on the platform is 100% genuine,” said Barnwal
“Two-thirds of an average urban girl’s closet remains inactive, in a country where most of the girls aspire to own high street fashion. We are a curated platform serving this need,” said Singh.